Florida 2-15 Insurance License Exam 2026/2027
UPDATED QUESTIONS WITH ANSWERS GRADED A+
• A group life insurance plan in which the employer pays the entire premium is known as
a ________________ plan. -✓✓ noncontributory
• If a disabled worker covered under Social Security disability benefits recovers and
then is disabled again within five years, a new waiting period is required before benefits
begin again. -✓✓ FALSE
• Robert had an accident and qualified for Social Security disability. Given the waiting
period, when will Robert begin to receive benefits? -✓✓ After 5 months
• The Insuring Clause includes all of the following EXCEPT the -✓✓ beneficiary
• Mutualization occurs when a stock company turns to a __________ company. -✓✓
mutual
• To provide a safeguard for insureds, most major medical policies contain a
____________ feature that limits the insured's out-of-pocket expenses. -✓✓ stop-loss
• Tom is a newly appointed life, health and variable annuity agent with Acme Insurance
Agency. He is writing his first insurance policy on his brother-in-law's life. Who does
Tom legally represent in this transaction? -✓✓ Acme Insurance Agency
• An insurance clause is a distinct article in a formal document that establishes the rules
in the contract that _____________________ must adhere to. -✓✓ both the insurer and
the insured
• "ACC" refers to the type of disability that prevents someone from performing the job he
was performing prior to the disability. -✓✓ FALSE
• Which statement is CORRECT about the Department of Financial Services' right to
examine an agent's records? -✓✓ An examination can be conducted at any time to
discover any unfair trade practices.
• Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing
a policy. This is an example of: -✓✓ rebating
• ____________ term insurance provides a level amount of protection for a specified
period, after which the policy expires. -✓✓ Level
, • Business overhead expense (B.O.E.) insurance does not provide benefits to cover the
business owner's salary. -✓✓ TRUE
• Level, decreasing, and increasing insurance are all basic forms of ____________
insurance. -✓✓ term
• Hospice services are covered under Medicare Part A. -✓✓ TRUE
• Under Florida law, group health insurers must offer mental and nervous disorder
insurance to policyowners. -✓✓ TRUE
• Deductibles under a group major medical plan usually run from $250 to $500; whereas
individual health plans usually run from: -✓✓ $1,000 plus.
• Every HMO subscriber must receive a benefits package that includes a copy of the
HMO contract and certificate, and: -✓✓ a member's handbook.
• A life insurance policy will not be reinstated if it has been: -✓✓ surrendered for its cash
value.
• Which of the following is NOT a type of permanent life insurance? -✓✓ Term Life
• In Florida, a ______________ must sign for and on behalf of a minor purchasing life
insurance. -✓✓ parent or legal guardian
• When an agent spreads a false story that damages a competing agent's reputation,
the offense is called: -✓✓ defamation
• __________ is when policy values of an insurance policy are used to purchase
another policy with the same insurer for the sole purpose of earning additional
premiums or commissions. -✓✓ Churning
• Once an organization has filed an application to conduct insurance business, the
Office of Insurance Regulation will begin its review for issuing a(n): -✓✓ Certificate of
Authority
• Florida law requires health insurance policies and HMO contracts to provide coverage
for all medically necessary equipment, supplies and services used to treat diabetes
when the patient's physician certifies that they are medically necessary. -✓✓ TRUE
• If an insurance company reimburses the insured for medical expenses, can the
insured deduct that amount from their federal income tax? -✓✓ NO
• Which of the following is NOT a benefit to key person insurance? -✓✓ Wage control
UPDATED QUESTIONS WITH ANSWERS GRADED A+
• A group life insurance plan in which the employer pays the entire premium is known as
a ________________ plan. -✓✓ noncontributory
• If a disabled worker covered under Social Security disability benefits recovers and
then is disabled again within five years, a new waiting period is required before benefits
begin again. -✓✓ FALSE
• Robert had an accident and qualified for Social Security disability. Given the waiting
period, when will Robert begin to receive benefits? -✓✓ After 5 months
• The Insuring Clause includes all of the following EXCEPT the -✓✓ beneficiary
• Mutualization occurs when a stock company turns to a __________ company. -✓✓
mutual
• To provide a safeguard for insureds, most major medical policies contain a
____________ feature that limits the insured's out-of-pocket expenses. -✓✓ stop-loss
• Tom is a newly appointed life, health and variable annuity agent with Acme Insurance
Agency. He is writing his first insurance policy on his brother-in-law's life. Who does
Tom legally represent in this transaction? -✓✓ Acme Insurance Agency
• An insurance clause is a distinct article in a formal document that establishes the rules
in the contract that _____________________ must adhere to. -✓✓ both the insurer and
the insured
• "ACC" refers to the type of disability that prevents someone from performing the job he
was performing prior to the disability. -✓✓ FALSE
• Which statement is CORRECT about the Department of Financial Services' right to
examine an agent's records? -✓✓ An examination can be conducted at any time to
discover any unfair trade practices.
• Bill gives Jim a couple of tickets to a Florida Gators game to thank him for purchasing
a policy. This is an example of: -✓✓ rebating
• ____________ term insurance provides a level amount of protection for a specified
period, after which the policy expires. -✓✓ Level
, • Business overhead expense (B.O.E.) insurance does not provide benefits to cover the
business owner's salary. -✓✓ TRUE
• Level, decreasing, and increasing insurance are all basic forms of ____________
insurance. -✓✓ term
• Hospice services are covered under Medicare Part A. -✓✓ TRUE
• Under Florida law, group health insurers must offer mental and nervous disorder
insurance to policyowners. -✓✓ TRUE
• Deductibles under a group major medical plan usually run from $250 to $500; whereas
individual health plans usually run from: -✓✓ $1,000 plus.
• Every HMO subscriber must receive a benefits package that includes a copy of the
HMO contract and certificate, and: -✓✓ a member's handbook.
• A life insurance policy will not be reinstated if it has been: -✓✓ surrendered for its cash
value.
• Which of the following is NOT a type of permanent life insurance? -✓✓ Term Life
• In Florida, a ______________ must sign for and on behalf of a minor purchasing life
insurance. -✓✓ parent or legal guardian
• When an agent spreads a false story that damages a competing agent's reputation,
the offense is called: -✓✓ defamation
• __________ is when policy values of an insurance policy are used to purchase
another policy with the same insurer for the sole purpose of earning additional
premiums or commissions. -✓✓ Churning
• Once an organization has filed an application to conduct insurance business, the
Office of Insurance Regulation will begin its review for issuing a(n): -✓✓ Certificate of
Authority
• Florida law requires health insurance policies and HMO contracts to provide coverage
for all medically necessary equipment, supplies and services used to treat diabetes
when the patient's physician certifies that they are medically necessary. -✓✓ TRUE
• If an insurance company reimburses the insured for medical expenses, can the
insured deduct that amount from their federal income tax? -✓✓ NO
• Which of the following is NOT a benefit to key person insurance? -✓✓ Wage control
